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Axis Bank Names Shikha

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Sharma was joyous and told PTI over phone that she would carry forward the legacy of Nayak, who was elusive to querying media persons.

There have been reports about Sharma, one of the top executives of ICICI Group who was in contention to succeed K V Kamath as Managing Director and CEO, quitting the top private bank ever since Chanda Kochhar pipped her to the post.

Sharma, however, declined to comment on the decision of Nayak, who expressed dissent to the board and decided to quit, ending his over nine-year association with the private sector lender where his term as such would have come to an end on July 31.

At a meeting held on Monday in Mumbai, the board of directors of Axis Bank decided to appoint Sharma, currently Managing Director and CEO of ICICI Prudential Life Insurance, as its new CEO and MD for a period of five years.

In a regulatory filing, the Bank said that Chairman and CEO Nayak dissented with the decision and informed the board that he was quitting the bank forthwith.

When contacted, Sharma said that she was thankful for the opportunity to Axis Bank, which she said, has been built into a "great franchisee" by Nayak.

It'll be my endeavour to take forward the legacy forward," she added. Asked about Nayak's dissent and his quitting the bank, Sharma said she "would not like to comment".

Sharma further said that she would discuss with Axis Bank about her joining date and also with ICICI group about her resignation from there.

"It was like a dream run at ICICI group and it has given me a lot of oppirtunity... Kamath had a big role to play there," she noted.

"I had a great career, but I have to move on," she added.

Asked whether it was a coincidence that she was leaving ICICI group at around the same time when Kamath was relinquishing the position as MD& CEO, Sharma said, "I would rather treat it as a destiny." Sharma's appointment is subject to approval from RBI and Axis Bank's shareholders who are meeting at an AGM on June 1.

Sharma, an MBA from IIA-Ahmedabad, began her career with ICICI, one of India's largest financial services providers, in 1980.

She has been instrumental in setting up various group businesses for the company, including investment banking and retail finance.

(PTI)


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